Tesla shares rallies in record territory after raising Wesbush price target


TSLA, shares of Tesla Inc.
+ 1.83%
Premarket trading rose 1.8% on Monday, putting them on track to open in record territory, with analyst Dan Ives at Weinbush raising his price target from $ 1,800 to $ 1900, signaling a surge in demand in China . The stock closed Friday at a record $ 1,650.71, up 20.1% over the past three sessions. Although Ives’ new price target is 15% above Friday’s closing price, they reiterated the neutral rating they held on the stock from April 25, 2019, when their stock price target was $ 275. “At this point, the demand for a strong Model 3 out of China remains a linepin of success and appears to be at a run rate for the Giga 3 to hit 150k unit deliveries in the first year out of the gates for Tesla. Is driving some strength. Model Y to start the ramp as well, “Ives wrote in a note to customers. “Looking ahead, we believe Musk & Co is ready to announce a number of new potential” game changing “” battery developments on its much awaited Battery Day on 22 September. “Tesla’s stock more than doubled (106.6%) over the past three months through Friday, while the S&P 500 SPX, 500
-0.01%
17.8% has advanced.

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